It is quite the eye-opener. Having been published yesterday (literally) it is full of current information on current events.
Some of the highlights it covers:
- Inflation/Deflation/Hyper-Inflation
- EU problems
- Budget deficit impacts
- Food inflation
- Debt rating scams
- Unemployment impacts
Good luck with that.
The video is 55 minutes, but is well worth the time. Hey, it's the weekend - what else are you gonna do?
Accept The Challenge
What is it going to take to get people to realize where we're heading? I have family members that I talk to about this, and they look at me like I'm from another planet. "We'll get through this, don't you worry..."
I "talk up" gold and silver - a lot. This video only strengthens my rationale and what I see with my own eyes with regards to the dollar, the euro and precious metals. The "fat cats" don't believe in fiat currencies any more.
And for goodness sakes, don't take on any more debt. Although future inflated incomes will make the debt payments less expensive, it is much better to put those dollars into tangible goods - food, precious metals, firearms, ammunition, durable clothing, medical supplies, seeds, canning equipment - you get the idea.
And do everything in your power to diversify your income streams. You've seen me talking about what I'm doing in my own life. DO NOT rely on a single stream of income. If things get truly ugly, the social services ("the safety net") will not be there - at least not at the levels we've seen in the past. You'll be on your own without the proverbial "pot to piss in".
Plan and act.
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LOL- "what else am I gonna do?"
ReplyDeleteWell, this is the fishing opener in MN- I'm going fishing! (AND hoping the 2K rounds I ordered don't get delivered till Monday!)
Shy III
I try to follow a fairly holistic plan and that includes putting some money into precious metals. I am still putting money into "the market" but my time line for it is pretty long.
ReplyDeleteThe thing people fail to realize about inflationary situations is that they have significant economic disruption and job loss, etc. It doesn't matter if your mortgage is really 30% less if you make 100% less.
The whole multiple streams of income thing is a tough nut to crack, especially with my job. However on the bright side our income is pretty darn secure. I can't really do much else given the time and random absences and such. For the time being we mitigate that risk by living far below our means.
CI,
ReplyDeleteWhat can you do when people, especially the ones you love, refuse to accept the very real possibility of a melt down? If the numbers are low, like mine, you lay in extra of everything just in case they can get to you before the bunker is locked down and the do not disturb (or else) sign goes up.
Best case... they show, they're covered. Second best case... if they don't show, you have extra supplies to see you farther down the road.
Sound cold? You tried to get them on-board. They are putting their faith in some other source of survival salvation. (NOTE: NOT a slap at religion) You can't beat, kidnap, threaten or shoot them if they want to go their own way.
My daughter and her family live five hundred mile from me. I've made the pitch. Their only reason for not wanting to link up... the life style changes they think their dog will create. It boils down to their sentiment vs. my sentiment. And I don't want to drive a wedge over it.
I'm stocking extra in case they change their minds and, I have told them what I'm doing. But if they don't accept, even as the hammer is dropping, the best I can do is continue to love and pray for them. And hold them in memories of happier times.
MikeH.depreb
Sly, I'm jealous! I'm teaching classes both days this weekend, so I'm all tied up. Knock 'em dead!
ReplyDeleteTOR, yep, putting money away to help cushion very bad times is THE way to go.
From what I read at your blog, you and wifey are already doing the multiple steams deal. You can also do online type stuff.
The precious metals buyers are going rabid on Ebay. I have a buddy who goes to a local coin shop and buys gold coins for retail prices - fair prices, but retail. He's been turning around and selling them on ebay and has been profiting between $600 and $1000 a month. It's unreal
Some numismatic coins, some bullion, but people are just snapping them up.
Mike, yeah, it comes down to the old, "you can lead a horse to water, but you can't make him drink." I've got one brother that has started to get on board, and another that simply doesn't see anything wrong happening in our country. What to do? As you alluded to, you can't do a snatch-and-grab and throw them in your basement! I'll keep trying, but I don't think it will make any difference.
I don't accept the premise that even if we cut everythng to the bone we would still run deficits. If we seperate SS from the budget and require that they use standard accounting practices then they would be solvent. That is adjust the payments according to the amount of money in the system not according to politics. Second eliminate most of the government departments not required by the constitution, for example the ZDepartment of Education. What the federal government must fund is the military, congress, the White House, and the federal court system. All the rest is optional. Our federal government could function constitutionally on half of the actual revenues it takes in.
ReplyDeleteAnonymous,
ReplyDeleteRE: Elimination of government departments
There is no doubt that a lot of huge cuts seem like an answer. However, I believe that at this particular time, doing so would be one (of any number) of the triggers to the beginning of our end.
And truth be told, I really don't see ANYTHING that can pull us back from the brink of the looming implosion. Not even a big "reset" button. I think we have fallen too far to avoid a hard landing.
Those massive cuts to government would put hundreds of thousands of government workers (and I'm probably being way conservative here) into unemployment lines.
Can we afford to take on those numbers on top of the millions of people already out of work? This may very well have been a built in "intended consequence" by big government proponents.
Those massive cuts are best done when there are plentiful jobs to be had, in the private sector, and the jars of milk and honey are a bit closer to full.
For the here and now, we have to accept the fact we are in a no hope free fall. The best we can hope for though, is enough time to pad up our touch down sites so it doesn't hurt quite so bad.
MikeH.
To MikeH: I don't disagree that firing a few hundred thousand federal workers would cause problems. Probably some Greece style rioting and legal challenges. My response is so what! Most of those workers and their jobs are not constitutionally mandated and THAT is exactly what we want to wean the federal government from doing, i.e. extra-constitutional activities. So good times or bad lets end that gravy train. I also don't think unemployed federal employees should engender any more sympathy or concern then unemployed civilian workers.
ReplyDeleteBut more to the point: We are in this trouble because of overspending. We must stop the overspending. If we do this we could pull ourselves out of this abyss sooner and be on a path towards fiscal sanity. I don't say this out of anger or jealousy of government employees, I was in the military for 20 years and worked for local governments for 13 years. I have seen a lot of waste and as a tax payer I resent it. Our "leaders" are not leading they are spending all their time trying to get reelected and this requires kissing up to special interest groups. We do not have to be in this situation. It's not as though we don't have resources and educated citizens. We are in this mess as a result of stupidity, graft and lack of vision. I fully expect a financial collapse with a result worse then the great depression. People will die, lives will be destroyed, our country could suffer a coup or civil war. This could be a disaster of biblical proportions. We need to do something before it all falls apart. There is less time then you think...